In today’s post, I am going to share 30 cool facts about Liberty Mutual Insurance Company. Researching this post was very enlightening. I learned so many cool facts I never knew about the company. I hope you enjoy them as much as I did.
Top 30 Cool Facts About Liberty Mutual Insurance
Listed below are 30 cool facts about Liberty Mutual Insurance Company. These facts are listed in no particular order. Please know that the source of each fact is properly cited.
# 1 Their Original Name
Liberty Mutual started in 1912 under the name “Massachusetts Employees’ Insurance Association” (MEIA). The name was changed in 1917 to the Liberty Mutual Insurance Company, and through partnerships with other companies, they started to sell full cover car policies.
# 2 The First Branch
Liberty Mutual opened its first branch office in Springfield, Massachusetts in 1914, and issued its first auto policy the same year.
# 3 Worker’s Compensation Insurance
In 1936, Liberty Mutual became the Number 1 writer of workers’ compensation insurance, and in 1937, the company expanded to all 48 states.
Source: Reference for Business
# 4 Prototype Cars
Liberty Mutual started the Research Center for Safety and Health in Hopkinton, Mass., in 1954. Two prototype “survival cars” introduced new safety features in 1957, including headrests to prevent whiplash and safety belts.
Source: Bad Faith Insurance Claims
# 5 Recognition from J.D. Power & Associates
Customer Service Excellence Awardee from J.D. Power and Associates, a global marketing information services company providing performance improvement, social media and customer satisfaction insights and solutions.
Source: J.D. Power
# 6 The Types of Insurance They Offer
The company offers a wide range of insurance products and services, including personal automobile, homeowners, workers’ compensation, commercial multiple peril, commercial automobile, general liability, global specialty, group disability, fire and surety.
# 7 Fortune 500
Liberty Mutual Insurance Group appears in the 2008 Fortune 500 company listing. Every year Fortune the American business magazine compiles, ranks and publishes a list of the top 500 U.S. public corporations based on their gross revenue. The Top Fortune 500 Company list provides Fortune magazine readers with facts and information about the top companies and their contributions to the American economy. Companies eligible for inclusion in the Top Fortune 500 Company list are those incorporated in the United States and whose revenues are publicly available.
# 8 Number of Employees
The company employs over 50,000 people in more than 900 locations throughout the world.
# 9 The Company Headquarters
The company’s home office is in Boston, Massachusetts.
# 10 Olympic Sponsorship
Liberty Mutual and the United States Olympic Committee (USOC) signed a sponsorship agreement in early 2013. The Fortune 100 Corporation became a domestic sponsor of the Team USA until 2016.
Source: Tanner Simkins
# 11 Giving Back
Liberty Mutual established Liberty Mutual Foundation in 2003.
Source: Philanthropy Massachusetts
# 12 They Only Offer Insurance
They are one of the top ten insurance companies in the entire world. This is because they have a vast array of policy types available and good customer service. Their insurance plans include both commercial and personal options. Commercial options include small business owner policies, general liability, commercial auto, and equipment coverage. Personal options include home, auto, boat, life, identity theft, and even pet insurance.
# 13 Accident Forgiveness
They will not raise your rates for your first accident, even if it is your fault. You can also choose to include new car replacement. If your car is less than a year old, they will replace it with a brand new car if yours is totaled in an accident. Other optional add-ons include medical costs for passengers, better car replacement, and rental car reimbursement.
# 14 Specialty Insurance Plans
Identity theft protection can be included in a home insurance policy. It will protect you if you are the victim of fraud. Benefits include reimbursement for incurred expenses. This covers things like legal fees, lost wages, loan application fees, and other costs one may experience. They also offer identity restoration assistance.
# 15 Business Policies
Agriculture, construction, healthcare, financial, food service, and sports and fitness are just a few examples. They offer policies for everything from small startups to family owned businesses to fortune 500 companies. Most business owners can request assistance from one of their risk control specialists. They can make practical suggestions to help businesses mitigate the risk of potential future problems.
# 16 The Company’s Blog
The company has a really cool blog consumers can check out.
It also includes coverage calculators to help you get a quote on a personal insurance policy that fits your needs. They have a coverage calculator for auto, home, and renter’s insurance. The website makes it easy to find an insurance agent in your vicinity. However, consumers should be aware that there’s been some complaints of unsatisfactory settlements and claim payouts.
# 17 They Own Some Local Insurance Companies
Liberty Mutual Group owns, wholly or in part, local insurance companies in Argentina, Brazil, Chile, China (including Hong Kong), Colombia, Ecuador, India, Ireland, Malaysia, Poland, Portugal, Russia, Singapore, Spain, Thailand, Turkey, the United Kingdom, Venezuela and Vietnam.
# 18 The Company’s Slogan
“Responsibility. What’s your policy?”
# 19 Mission & Vision Statement
“Helping people live safer, more secure lives.”
# 20 They hold an “A”(Excellent) rating from A.M. Best
A rank of “A”(Excellent) from A.M. Best, the world’s oldest and most authoritative insurance rating and information source.
Source: AM Best
# 21 Top Ten Largest Auto Insurance Companies of 2019
Liberty Mutual’s auto insurance customers can add coverage for antique or classic cars, all-terrain and off-road vehicles, recreational vehicles and trailers. Liberty Mutual also sells a wide range of other coverage, including policies for homeowners and renters.
# 22 Funny Mascots
Humor and fictional personalities are both firsts for the insurance company.
# 23 Liberty Mutual’s Global Presence
Liberty Mutual operates in 30 countries and economies around the globe
Source: AP News
# 24 Total Investments in 2019
Total invested assets as of March 31, 2019 are $78.2 Billion
# 25 Best Employers for Women
Liberty Mutual Insurance Named one of the Best Employers for Women in 2018 by Forbes Magazine.
# 26 Liberty Mutual Benefits
There are many benefits with Liberty Mutual Insurance most of them revolve around the accident and what benefits you would reap. This is so during the claims process you incurred the least amount of expenses on your end.
Source: The Insurance Hackers
# 27 Discounts
Liberty Mutual gives newly retired drivers a discount, and Farmers offers policyholders in Arizona a break on their auto premiums if they’re 55 or older and live in a retirement community.
# 28 Insurance Bundles
Liberty Mutual really does put all their information upfront, to help you do everything you need with as much ease as possible.
Source: money under 30
# 29 MasterThis Platform
Liberty Mutual Insurance teamed up with HowStuffWorks®, an award-winning source of unbiased, reliable, easy-to-understand answers and explanations, to develop a new go-to online platform, MasterThisTM. The site features exclusive content by HowStuffWorks and helps home and auto owners address immediate needs by providing the tools and know-how to fully master a topic so they can tackle those challenges with greater confidence.
Source: PR Newswire
# 30 A Great Employer for Millennials
LMI is the fourth largest employer in the financial and insurance sector, regularly hiring close to 500 interns each semester — 100 percent of which are paid internships — and offering full-time job offers to 60 percent of those interns
Source: Bentley University
There you have it folks. These are 30 cool facts about Liberty Mutual Insurance Company. Which one of these facts is your favorite and why? Leave a comment below to let me know what you think. I look forward to hearing from you.